Santos Sangria is a $100-$plus$-$year$-$old distiller and makes the world$$s premier sangria. The sangria is produced in two bottling facilities, one of which is $80$ years old and has an area of $70,000$ square feet and the other was built in $2013$ and is $210,000$ square feet.

Last year, both facilities upgraded their production lines, each putting in state of the art equipment. Both facilities are located on $100$ acres of land, which Santos Sangria purchased for just $$10$M in $1918.$

Relevant information

Recently, a $35,000$ square foot bottling facility in an adjacent town sold for $$30$M$.$ The transaction did not include any equipment

The average bottling facility sells for $$950$ per square foot

$10$ years ago, a $210,000$ square foot $10-$year$-$old bottling facility sold for $$200$M

Santos Sangria$$s land value has been appraised for insurance purposes at $$100$M

A $15-$acre plot of land directly next to Santos Sangria$$s land recently sold for $$20$M

Santos Sangria$$s Balance Sheet

$------------------------------------$

Cash $100$

Inventory $5$

Receivables $8$

Land $10$

Buildings $167$

Equipment $70$

Goodwill $300$

$------------------------------------$

Total assets $660$

Short$-$term debt $5$

Payables $3$

Long$-$term debt $150$

Equity $502$

$----------------------------------$

Total L & E $660$

Values in millions of $US

Question $1$

Based on the information available to you, what land value adjustments $($in millions of dollars$)$ would you make?

Note: Please enter only numerical values here. For example, if your answer is $100$ million, enter $100.$

Question $2$

Based on the available information, what equipment value adjustments $($in millions of dollars$)$ would you make?

a$)$ $$100$M

b$)$ $$40$M

c$)$ No adjustments required

Question $3$

Question $30\mathrm{.}4$ pts

Based on the available information, what building value adjustments $($in millions of dollars$)$ would you make?

Note: Please enter only numerical values here. For example, if your answer is $100$ million, enter $100.$